The major indices have decreased significantly since the beginning of the reported week. The ICE recorded the adjustment of positions amongst other things.
However, current quotations of available cotton reflected by the CIF Bremen Index were only hesitantly altered. Offers at origin remained firm as well.
The turnover stayed limited on the local market despite the declining prices. The spinning industry continued to cover their needs cautiously.
Only single contracts were closed for delivery dates right before or after the upcoming company holidays in order to secure production.
The following contracts were closed:
Medium staple cotton: Central Asia for prompt delivery, West Africa for prompt and the 3rd quarter as well as East Africa for the 3rd quarter 2013.
Long and Extra-long staple cotton: Spain for prompt delivery.
